Procurement Specialist

Gurugram

Company Profile:

Know T.A.C.

The Ayurveda Co. (T.A.C) is a thriving, direct-to-consumer startup that translates the ancient wisdom of

Ayurveda into the language of the young and dynamic India – the millennials and Gen Z. We offer a broad

range of Ayurvedic beauty and wellness products, crafted especially to resonate with the lifestyle of today’s

youth. T.A.C has a robust omnichannel presence in India and caters to an international customer base too.

Click below to know more about us:

Shreedha Singh is now an angel investor on JIO Cinemas Indian Angels

How D2C Brand the Ayurveda Co. Grew Its Customer Base 10X In Just 2 Years

The Ayurveda Company: D2C brand T.A.C eyes profitability by Diwali’24; invests in R&D, warehousing, ET Retail

(indiatimes.com)

“Husband-wife duo founders of Khadi Essentials share entrepreneurial mindset”.

“This Startup is Bringing Ayurveda to Millennials and Gen Z”

“VC fund Sixth Sense Ventures leads Rs 100 crore Series A round in The Ayurveda Co”

“Ayurveda firm TAC raises Rs 100 cr in funding for business expansion”.

“T.A.C Ropes In Kajal Aggarwal As Brand Ambassador”.

Role: Procurement Specialist

Location: Gurgaon

Responsibilities:

1. Strategic Sourcing and Supplier Management:

• Develop and implement a procurement strategy aligned with the company’s goals and objectives.

• Identify and evaluate potential suppliers, negotiate contracts, and establish favourable terms and

conditions.

• Maintain strong relationships with suppliers, ensuring quality, reliability, and cost-effectiveness.

2. Procurement Process and Systems:

• Establish and optimize procurement processes, including requisition, purchase order creation, and

inventory management.

• Implement and utilize procurement systems to streamline operations and improve efficiency.

• Ensure compliance with relevant laws, regulations, and ethical standards in procurement practice.

3. Supplier Relationship Management:

• Collaborate with cross-functional teams to understand business requirements and establish

procurement needs.

• Work closely with suppliers to monitor performance, resolve issues, and implement continuous

improvement initiatives.

• Conduct supplier evaluations and audits to assess capabilities, quality, and adherence to sustainability

standards.

4. Cost Management and Budgeting:

• Analyse market trends and conduct cost-benefit analysis to identify cost-saving opportunities.

• Manage and control procurement budgets, ensuring optimal utilization and adherence to financial

targets.

• Implement strategies to reduce costs, improve efficiency, and drive overall procurement value.

5. Quality Assurance and Compliance:

• Establish and enforce quality assurance protocols to ensure products meet defined standards.

• Collaborate with internal teams and suppliers to resolve quality-related issues and implement

corrective actions.

• Ensure compliance with relevant regulatory requirements, certifications, and industry standards.

6. Supply Chain Risk Management:

• Identify and assess potential risks in the supply chain, developing mitigation strategies and contingency

plans.

• Monitor market conditions and external factors that may impact the supply chain, taking proactive

measures to minimize disruptions.

• Collaborate with internal stakeholders to implement sustainable sourcing practices and reduce

environmental impact.

7. Reporting and Analytics:

• Generate procurement reports and provide regular updates on key performance indicators (KPIs).

• Analyze procurement data to identify trends, risks, and opportunities for process improvement.

• Provide insights and recommendations to senior management for informed decision-making.

8. Sales Forecasting Segmentation:

• Validate sales forecasting segmentation and make suitable corrections.

9. Demand Forecasting:

• Create a base forecast based on statistical sales data and market intelligence.

• Develop consensus forecast with sales & marketing team and upload it in the system.

• Monitor key performance indicators such as fill rate, minimum order quantity (MOQ), and lead time

to optimize inventory management and supply chain efficiency.

• Stay informed about industry trends and best practices in procurement and supply chain management,

and drive innovation in procurement processes and strategies.

• Develop and maintain strong relationships with suppliers to ensure timely delivery of goods and

services and to manage vendor performance.

• Negotiate contracts and terms with suppliers to secure favourable pricing, credit terms, and service

agreements.

Qualifications:

• Bachelor’s degree in supply chain management, Business Administration, or a related field. Additional

certifications in procurement or supply chain management are a plus.

• 2-8 Years of experience in procurement, preferably within the beauty, wellness or FMCG industry

• In-depth knowledge of procurement principles, practices and market trends.

• Strong negotiation, contract management and supplier relationship management skills.

• Proficiency in procurement software and systems

• Excellent analytical and problem-solving abilities
• Demonstrated ability to work in a fast-paced, dynamic startup environment